{"id":42005,"date":"2014-05-08T07:15:32","date_gmt":"2014-05-08T11:15:32","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=42005"},"modified":"2014-05-08T07:17:14","modified_gmt":"2014-05-08T11:17:14","slug":"hedge-fund-advisory-firm-accused-of-distributing-falsified-performance-results","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2014\/hedge-fund-advisory-firm-accused-of-distributing-falsified-performance-results.html","title":{"rendered":"Hedge Fund Advisory Firm Accused Of Distributing Falsified Performance Results"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-17767\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285-300x268.jpg\" alt=\"frozen assets\" width=\"300\" height=\"268\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285-300x268.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285.jpg 341w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; A New York-based investment advisory firm and two executives have had\u00a0fraud charges and an asset freeze filed against them by the SEC for distributing falsified performance results to \u00a0investors in two hedge funds they managed.<\/p>\n<p>The SEC alleges that Aphelion Fund Management\u2019s chief investment officer Vineet Kalucha fraudulently altered an outside audit firm\u2019s report reviewing the performance of an investment account he managed. Aphelion\u2019s chief financial officer George Palathinkal allegedly learned about Kalucha\u2019s falsifications, which essentially changed an investment loss into a major investment gain in the account. Nevertheless, the falsified report showing the phony gain instead of the actual loss was distributed to prospective investors. Furthermore, investors were separately provided false information about Aphelion\u2019s assets under management and Kolucha\u2019s litigation history.<\/p>\n<p>Kalucha, who is majority owner and managing partner of the firm in addition to chief investment officer, also is charged with siphoning investor proceeds for his luxury car payments and settlements of legal actions against him personally that are unrelated to Aphelion.<\/p>\n<p>In response to the SEC\u2019s request for emergency relief for investors, U.S. District Court Judge Jed S. Rakoff issued a temporary restraining order, imposed an asset freeze to protect client assets, and temporarily prohibited the defendants from soliciting new investors or additional investments from existing investors. A hearing on the SEC\u2019s motion for a preliminary injunction has been scheduled for May 15 before Judge Richard M. Berman.<\/p>\n<p><span style=\"color: #000000;\">Alex Akesson<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">For\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a><span style=\"color: #000000;\">\u00a0is a premier\u00a0<\/span><a style=\"color: #ff4b33;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a><span style=\"color: #000000;\">\u00a0and community for qualified and accredited investors only. Membership in\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><span style=\"color: #000000;\">\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a><span style=\"color: #000000;\">!<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; A New York-based investment advisory firm and two executives have had\u00a0fraud charges and an asset freeze filed against them by the SEC for distributing falsified performance results to \u00a0investors in two hedge funds they managed. The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-42005","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=42005"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42005\/revisions"}],"predecessor-version":[{"id":42007,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42005\/revisions\/42007"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=42005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=42005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=42005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}